Tether will undergo an independent security audit

Tether, the company known as the issuer of the USDT stablecoin, announced the successful completion of the System and Organization Controls 2 (SOC 2) Type I audit.

SOC 2 is an independent audit and reporting procedure developed by the American Institute of Certified Public Accountants (AICPA). The system is essentially an international reporting standard for cybersecurity risk management systems, which is based on risk analysis and monitoring. This standard aims to provide a uniform international methodology for reporting on the security level of information systems. Thus, it helps companies effectively manage risks and protect their information from cyber threats.

The first type of report, which Tether has passed, demonstrates the effectiveness of creating security control mechanisms for a single process. «This proves to our customers that their assets and data are managed in an environment that meets the highest standards of data protection and information security,» emphasized Paolo Ardoino, CEO of Tether.

The company emphasizes that it is gradually updating its security strategy. The priority is innovative technologies, transparency, and accountability to stablecoin users.

Tether has committed to undergoing annual SOC 2 audits. The plans of the USDT issuer for 2024-2025 include obtaining the SOC 2 Type II certification, which will assess the effectiveness of internal controls over a 12-month period.